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9 • Orange County Website – orangecountync.gov 1 – Upcoming Budget Meetings 2 • April 10 Work Session for Capital Investment Plan 3 • April 24 Joint Meeting with Schools 4 • May 1 Presentation of FY2018-19 Recommended Operating Budget 5 • May 10 & 17 Public Hearings on Operating Budget and CIP 6 • May 24 Work Session for Schools and Outside Agencies 7 • May 31 Work Session for Fire Dist., Public Safety, Support, Gen. Govt. 8 • June 7 W ork Session for Human Services and Comm. Services 9 • June 12 Amendments and Intent to Adopt 10 • June 19 Adoption of Operating Budget and CIP 11 12 Commissioner McKee referred to the debt structure slide, and clarified that tax 13 increases would be required in order to make the payments. 14 Travis Myren said the tax increases will be bigger in the early years, because this 15 principal is hitting faster in the early years. 16 Commissioner Jacobs asked if the tax increases could be projected, and if the tax 17 increases will ever go down. 18 Travis Myren said cases 2 and 3 are the same scenarios that the BOCC saw at the 19 retreat, which was a tax increase between 4 and 5 cents. 20 Commissioner Jacobs asked if it known how far out this increase would go. 21 Travis Myren said at least until 2024 or 2025, but he would get more specific information 22 and bring it back to the BOCC. 23 Commissioner Jacobs asked if that would be about the time the schools would want 24 another bond. 25 Travis Myren said that is when the County’s debt capacity would start freeing up, and it 26 would be possible to maintain a similar level of taxation, while having some room to pay for 27 additional capital. 28 Commissioner Jacobs said it may be a tax increase for the foreseeable future. 29 Travis Myren said that is a policy decision to be made by the BOCC. 30 Commissioner Jacobs asked if, at next week’s Budget Work Session, staff could explain 31 why so much money has to be spent on Chapel Hill High School up front. 32 Travis Myren said yes. 33 Commissioner Price asked if the percentage of the fund balance will remain the same. 34 Travis Myren said yes, that policy would remain at 16%, and this policy is for the amount 35 of debt service. 36 Commissioner Price asked if the maintenance of the Orange County Schools (OCS) is 37 built into this CIP. 38 Travis Myren said all of the projects included here are the same projects that the 39 schools have put in their facility reports. He said the maintenance part would be in the 40 operating budget. 41 Commissioner Price said some of the schools are in very poor condition, and asked if 42 there is a plan in place to keep the schools stabilized until major renovation can occur. 43 Travis Myren said OCS is comfortable with this project schedule, and OCS has a lot of 44 smaller specific projects, as opposed to one major, complex project. 45 Commissioner Rich asked if the 21% for the school capital project is included in the 46 48.1% budget goal that the BOCC aims to hit each year. 47 Travis Myren said the 48.1% is the percentage of the operating budget, and the 21% is 48 in addition to that. 49